Gates Capital Management Raises Stake In Richardson Electronics Ltd. (RELL)

Gates Capital Management, managed by Jeffrey Gates, has disclosed slightly raising its position in Richardson Electronics Ltd. (NASDAQ:RELL). According to the filing, the fund owns 2.83 million shares of the company, slightly up from 2.70 million shares disclosed in the fund’s 13F filing. The new position is equivalent to around 23.88% of common stock.

Richardson Electronics Ltd. (RELL)

Richardson Electronics Ltd. (NASDAQ:RELL) provides engineered solutions, power grid and microwave tubes and related consumables, and customized display solutions serving customers in the RF and microwave communications, military, marine, aviation, industrial, scientific and medical markets. The company has a market cap of $148.1 million. In December 2013, Gates Capital disclosed increasing its position in Richardson Electronics Ltd. (NASDAQ:RELL) from 2.6 million shares held previously.

The company recently has reported third-quarter fiscal 2014 results. For the third quarter, the company’s net sales were $32.9 million, a 2.2% decrease compared to net sales of $33.6 million in the prior year. The net loss amounted to $0.5 million, slightly up from $0.4 million in the previous year.

Among the largest shareholders of the company include Robert G. Moses’ Rgm Capital and Chuck Royce’s Royce & Associates, owning approximately 1.17 million shares and 927,900 shares, respectively.

New York-based Gates Capital was founded in 1996 by Jeffrey Gates, who currently serves as president and portfolio manager. Jeffrey Gates is an event-driven investor who seeks to identify “dislocation events” at public companies which are creating cash flow and sustainable value. It expresses its views through both debt and equity investments. At the end of January, the fund reported boosting its stake in International Game Technology (NYSE:IGT) to 12.51 million shares.

In its most recent 13F, Gates Capital disclosed ownership of a $262.7 million stake in Darling International Inc. (NYSE:DAR), containing 12.58 million shares. In Nortek Inc (NASDAQ:NTK), the fund revealed owning around 3.0 million shares of the company. DaVita HealthCare Partners Inc (NYSE:DVA) is another important holding, in which the fund held 3.01 million shares.

Disclosure: none

Recommended Reading:

Broadwood Capital Reduces Futher Questcor Pharmaceuticals Inc (QCOR)

RA Capital Reports New 5.8% Position In Recently Public Versartis Inc (VSAR)

Anchorage Advisors Sells Over 1 Million Shares In Central Pacific Financial Corp. (CPF)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!